CYBER FRAUD, CORPORATE GOVERNANCE, AND CORPORATE SURVIVAL IN THE DIGITAL ECONOMY: STRATEGIES FOR BUILDING RESILIENT ORGANIZATIONS

The increasing prevalence of cyber fraud in the digital economy poses significant challenges to organizational sustainability, making effective corporate governance essential for long-term corporate survival. This study examined the effect of corporate governance on corporate survival in the digital economy, with particular emphasis on internal control and risk management. A descriptive survey research design was adopted, and data were collected from 250 managerial and supervisory employees drawn from selected commercial banks, fintech firms, telecommunication companies, and insurance firms in Nigeria using purposive and simple random sampling techniques. A structured questionnaire based on a four-point Likert scale served as the instrument for data collection. The instrument was validated by experts, while reliability was established using Cronbach's Alpha. Data were analyzed using descriptive statistics and multiple regression analysis with the aid of SPSS Version 29 at the 5% level of significance. The findings revealed that internal control has a positive and statistically significant effect on corporate survival (β = 0.436, t = 7.845, p < 0.001), while risk management also exerts a significant positive influence on corporate survival (β = 0.389, t = 6.974, p < 0.001). The regression model explained 61.1% of the variation in corporate survival (R² = 0.611), indicating that corporate governance mechanisms play a substantial role in enhancing organizational resilience. The study concluded that robust internal control systems and proactive risk management practices are critical for minimizing cyber fraud, strengthening stakeholder confidence, ensuring operational continuity, and sustaining competitive advantage in the digital economy. The study recommends that organizations strengthen cybersecurity-oriented internal controls, integrate enterprise risk management into strategic decision-making, conduct regular cyber risk assessments, and invest in employee cybersecurity awareness programmes and advanced technological safeguards to enhance long-term corporate survival.